> the numbers in your account are still backed by something that tangibly exists

Only if you consider fiat money that can be printed in arbitrary amounts by Mr. Bernanke's famous printing press to be "something that tangibly exists".

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Tanoc 4 hours ago | parent | next [-]

Well there's also assets. The bank can hold the value of land deeds or house loans for example. The house and the land it's on are tangible things that can be evaluated. Though I suppose that's a degree removed from printed bills or minted coinage.

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SR2Z 11 hours ago | parent | prev [-]

Despite that, USD seems to hold its value pretty well. Certainly a lot better than many other "stores of value."

	▲	pdonis 13 minutes ago \| parent [-]
		> USD seems to hold its value pretty well. The Consumer Price Index has inflated by a factor of more than 15 from January 1947 through March 2026 [1]. That's an annual rate of inflation of about 3.45 percent. That's an indication of how the USD does not hold its value--if you have a stock of dollars that you want to hold the same buying power year to year, you have to add 3.45 percent to it every year just to stay even. [1] https://fred.stlouisfed.org/series/CPIAUCSL